If anyone can supply the missing percentages, please let me know (ditto any typos in the table), otherwise I will update the list as I come across them.
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fund war Manager's
Date Cash raising chest fee Value
2017 £000's £m £000's £'s
Albion Dev 31/12/2016 10,153 4.0 14,153 2.25% 318,443
Albion Enterprise 31/12/2016 8,629 6.0 14,629 2.50% 365,725
Albion Tech&Gen 31/12/2016 6,752 6.0 12,752
Albion VCT 30/09/2016 6,706 6.0 12,706 1.90% 241,414
Baronsmead VT 30/09/2016 21,591 21,591 2.00% 431,820
Baronsmead 2VT 30/09/2016 24,110 24,110 2.50% 602,750
Br Smaller Cos 30/09/2016 29,544 4.3 33,844 2.29% 775,028
Br Smaller Cos 2 31/12/2016 15,863 4.2 20,063 2.51% 503,581
Chrysalis 31/10/2016 6,318 6,318 1.65% 104,247
Crown Place 31/12/2016 4,855 4,855 2.50% 121,375
Downing One 30/09/2016 8,118 8,118
Edge H 31/08/2016 2,112 2,112
Foresight 1 Ord # 31/12/2016 39,355 39,355 2.00% 593,550
Income & Growth 30/09/2016 29,310 29,310
Maven 4 VCT 31/12/2016 4,394 4,394
Maven 5 VCT 30/11/2016 4,103 4,103
Mobeus I&G 31/12/2016 21,657 21,657 2.00% 433,140
Mobeus I&G 2 30/09/2016 18,202 18,202
Mobeus I&G 4 31/12/2016 22,246 22,246
Northern VT 30/09/2016 8,552 4.3 12,852
Northern VT 2 30/09/2016 11,093 4.3 15,393
Northern VT 3 30/09/2016 1,542 4.3 5,842
Octopus Titan 31/10/2016 100,644 120.0 220,644 2.00% 4,412,880
ProVen 31/08/2016 36,329 36,329
ProVen G&I 31/08/2016 10,578 39.0 49,578
# Foresight take full
2% on the first £20m
of cash, then 1%
thereafter
No wonder Octopus are so keen on large fund raisings, £4.4million! But then, none are figures to be sneezed at.
Although not ideal, I must give mild credit where due to Foresight, for their reduction on the excess.
Looking at the table, it does reinforce my long held view that VCTs would be acting more in members' interests if they used their borrowing powers short term ahead of the latest offering. This would offer the twin benefits of avoiding shareholders questioning the motives behind the size of fund raisings and the potential conflict of interest and, given the latest weighted average exceeding three years on my cash pile summary, relieve time pressures on making qualifying investments.
Given the speed with which the latest round filled up, fund managers should have no fears of being left carrying debt long term.
naflod